Consumer Traps & Tips #31 - Renter’s Insurance

For immediate release: June 29, 2009
Contact: Dennis Moore PBC Consumer Affairs Division, (561) 712-6600

Trap

Brittany finally completed decorating her apartment.  She purchased new designer accessories that enhanced the antique furniture she inherited from her mother.  That night, a pipe burst in the wall and flooded her apartment.  Brittany’s living room furniture was ruined, and her big screen TV was damaged beyond repair.  She thought her landlord’s insurance would cover the replacement of her property.  Later, she found out she was wrong. 

Tips

Thousands of dollars in damages can occur from broken pipes and fire damage, and a landlord’s insurance policy won’t cover losses. Renters insurance will cover household items including furniture, clothing, electronics and appliances if they are damaged or destroyed.

• Take an inventory of appliances, electronics, jewelry, collectables and other valuable possessions.
• Liability coverage is also available in case the insured is sued by someone who claims to have been injured while in the apartment.
• Natural disasters such as floods are typically not included.  Coverage can be purchased separately through an insurance agent or company.
• If the apartment contains safety features such as fire extinguishers, alarm systems or sprinklers, a discount on the policy may be available.
• Shop around before buying to get the best price.
• Talk to agents about deductibles and coverage available.
  
• Check with the Florida Department of Finance for insurance company ratings (http://www.fldfs.com).
  

Get more information at the Consumer Affair’s Web site, www.pbcgov.com/consumer, or call 561-712-6600 (Boca/Delray/Glades call toll free at 888-852-7362).